A MEDICAL tech startup based in Bangalore has successfully closed over US$1 million (120 million rupees) in a Series A round of funding to aid doctors with patients who suffer from heart complications with the help of Inventus Capital Partners and Blume Ventures, as well as a number of angel investors.
Tricog Health Services, which manufactures and distributes ECG devices that connect to a cloud to help doctors keep track of their patients’ heart conditions, intends to use the funding to develop their technology and to scale the company.
The startup was founded in January 2015 by Dr. Charit Bhograj, Dr. Zainul Charbiwala, Dr. Udayan Dasgupta, and software architect Abhinav Gujjar. Tricog also has a team that works 24/7 to analyze the data gleaned from the devices and sends reports from a mobile app.
According to the Economic Times, Dr. Bhograj said the company’s device helps with reducing the time needed to make a diagnosis, and also ensures accuracy. Tricog has also filed a patent for the technology behind the device, “all of which we built in Bangalore”, added Dr. Bhograj.
Tricog’s ECG devices are located at local clinics, polyclinics, nursing homes and hospitals, and each time an ECG is performed using their cloud-connected technology, a report is sent to both the doctor and the patient instantly.
Bhograj said: “In India alone, 5 million people suffer heart attacks every year and 3 million of these don;’t survive. The average time it takes to diagnose a heart attack in urban India is 360 minutes. The chances of survival with this delay is a mere 20 percent.
“If this delay were reduced to 90 minutes, the survival probability jumps to 80 percent. Tricog’s aim to change the patient’s 80 percent chance of death to an 80 percent chance of staying alive.”
To date, Tricog is available in nearly 250 clinics, nursing homes, and hospitals in 12 cities and towns around India, with almost 100,000 patients diagnosed. Out of that, 5,000 were found to require urgent attention for acute heart conditions.
The technology uses advanced algorithms and data visualization to deliver results. Tricog hopes to also expand into creating wearable devices and personal health devices.